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's hard to beat the earnings report we get tomorrow night from alcoa. i know at times i've cursed at the prospect of a stumbling alcoa kicking off earnings season with a miserable first quarter. the number of times this company seems to have missed estimates is boundless. it makes people cringe. because it is the lone standout of the new season and not much else happens tuesday, kit be worth a day's worth of chatter. how unfair that this stumble bum set the tablo. now you may not like how alcoa does, but if it does pa bad, it is no longer alcoa's fault. they are well run. the issue isn't alcoa itself and the execution or lack thereof. the issue is that alcoa sells into pretty much every market that matters. it's a far better tell for things, for example, that are now totally politicized labor report. consider what markets alcoa plays in. first, alcoa is the dominant raw materials supplier to the airspace industry that employees millions of people globally. an astounding one million screws go into each boeing 787 or airbus 380. all planes use aluminum. i don't know how you're going
to the stock market, it's hard to beat the urge of what we get tomorrow night from alcoa. i know i talked last night about alcoa and their miserable first quarter. because it is the loan standout of the season, it can be a backdrop for at least a day's worth of chatter. how unfair that this stumble bum set the tabloid. now you may not like how alcoa does, but if it's bad, it's no longer alcoa's fault. that way i will cause my oewn prompt ter of worldwide growth. consider what alcoa plays in. alcoa is the come nant space. and 1 million alcoa screws go into a 747. second aluminum is the usual material for parts of trucks. alcoa is in all of them. third construction, you need -- commercial construction uses a huge amount of -- it's commercial construction, and this is the worth of business for alcoa. let's alcoa tell us if it's for real. and we have a tremendous amount of switching. there's no really way to judge this stuff. we will get a read on one of the most important seculars that are now in place. finally aluminum, courtesy of steve jobs has become an important part of the technology food c
alcoa, yum brands on deck for earnings. all of a sudden i started to see alcoa pop for a second there. >> reporter: yeah, those are off about 4% and yum brands pulling back a bit. david: coal stocks getting a big boost today, but other than that it looks red across the board. the bells are ringing on wall street. a little bit of fear factor wondering whether this is the beginning of the correction. october 9th, yes, a couple of years before october 9th we began a correction. whether this turns into one is sttll unclear, but again, we're trading to the downside as we went into the final bell, and it looks like it's trading a little lower as it kind of settles here. dow jones industrials down over 109 right now, s&p getting hit harder percentage wise, down 14.3. nasdaq getting hit the hardest of all of these four indices, 1.5 percentage points, and the russell 2000 down as well, getting hit hard, down about one and a quarter percent. liz: yeah. david's right, a lot of that is apple. the home builders, though, seeing a big drop. let's see how that impacted pkb, the building and con
in three years. the flood of third quarter results kicks off tomorrow with dow component alcoa reporting its sultaftethe be. ahead of that, the dow fell 26 points, the nasdaq lost 23, the s&p down five points. joining us now to talk more about quarterly earnings, and the outlook for the markets: scott wren, senior equity strategist at wells fargo advisors. hi, scott, i want to start off by getting your take on quarterly earnings. looking here on this graph about what the forecast had been calling for is a drop of 2.4% in third quarter earnings year-over-year. it will be the first decline in 11 quarters. and over the last couple of weeks we have he been getting a steady stream of earnings warnings. so scott, will the numbers really be that bad? >> well, sus yeaux, you know, they could very easily be that bad. for me we're expecting more srx flat up 2%. somewhere in there. but really versus that consensus, you're not much different. so i think you know we're not climbing out of the hole any more. we don't have easy comparisons. you're at the point of the economic cycle where you know earni
. tom's off tonight. alcoa's earnings beat analyst estimates. we'll have more in our exclusive interview with c.e.o. klaus kleinfeld. stocks tumble on the five-year anniversary of the dow and s&p's record highs. what will it take for wall street to make a comeback? and find out what daily-deal sites like living social are doing to lure holiday shoppers as we continue our week-long look at holiday retail. that and more tonight on nbr! better than expected earnings and revenues from alcoa tonight. after the closing bell, the aluminum giant said it earned three nts a share in the third quarter. analysts were expecting break- even results. revenues also topped estimates at $5.8 billion, but that was below last year's level. the company repeated its forecast that aluminum demand will double between now and 2020. alcoa is the first dow component to report earnings, and is considered a bellwether of how the economy is faring. the stock barely budged in the regular session, closing at $9.13 a share, and was up a few pennies after hours. we're happy to have with us now alcoa c.e.o. klaus kleinfel
a good rally this year in top strategists will weigh in. alcoa moments away from kicking off the earnings season. i'll speak with chairman and ceo klaus kleinfeld in a moment. take a look at how we're finishing the day on wall street this afternoon. the dow jones industrial average at the lows of the afternoon down 110 points. volume deadly. nasdaq down 47 points. technology one of the weak spots today, down 1.5% on the nasdaq at 3,065. the s&p 500 weaker by 14, about 1%, at 441. we're moments away from the quarterly earnings due out from alcoa and yum brands. let's get today' market reaction. good to see you, guys. thanks for joining us. >> thank you. >> mike, what are you expecting out of earnings this season? >> i think we're going to have a negative quarter, maria. looks like we're down 1.21 according to the cap iq consens consensus. i think we're going to have weakness in the materials sectors. i think there's going to be a surprising strength in financials and consumer discretionary. >> i know i've asked this a million times, but is it priced into the markets we're going see a weak
. that's my world. ♪ liz: stand by. after the closing bell, aluminum maker alcoa becomes the first major u.s. company to report third quarter results. just remember, since 2009 i think alcoa has missed estimates 72% of the time. [laughter] sandra smith, the preview. >> so it doesn't always indicate the actual earnings season ahead, but we're watching shares closely. and they are moving higher ahead that earnings report after the bell today, actually leading the dow 30 components right now, up just about eight-tenths of 1%. you can see the intraday chart there. year to date this is a stock that's gained just over five -- sorry, we just switched over -- just over 5%. analysts are expecting alcoa to break even on revenue of $5.5 billion for the quarter. many consider alcoa a bramer the for the earnings season, but there is something to keep in mind here. since 2009 when alcoa missed wall street's earnings forecast nearly 73% of the time as liz just mentioned, of the companies in the s&p 500 went on to beat profit estimates. so three-quart earth of the time they went on to have very good ear
as protesters take to the streets. >>> and alcoa kicks off what could be subdued u.s. earnings season. third quarter results of the s&p 500 are expected to drop overall snapping 11 quarters of gains. >>> okay. good to have you back. >> good to be back. you were out, i was out, it was -- >> and i was a little worried about what you were up to, so i do admit, i had you followed. and my man, he sent me back this photograph. >> oh, no. >> that is you with the goggles, right? >> yes, that's me with the goggles. >> what's going on? >> that's my sister at the end there. so i was back at my alma mater in virginia for my college reunion. part of that was -- >> to dress up and pretend you played lacrosse. why are you the only one with goggles? >> that's actually a relatively new addition to the game. when i started playing, we didn't wear goggles. but you get hit in the head a lot. supposed to be a noncontact sport. but because it was supposed to be noncontact sport, you didn't wear protective gear. but you get a little riled up, there's things flying. >> you have all thatting aggres out of you? >> i
the ipad mini. after the bell today on 4:00 p.m. show, focusing on alcoa, dow component. first to report here in kick off earnings season. back to you. dagen: thank you. connell: hackers claiming to have ties to islamic terror groups threatening to attack websites of some of the largest financial companies in our country. dagen: adam shapiro joins us with the whole story. adam: we saw this story when there were cyberattacks against bank of america and jpmorgan chase. now this is a posting that appeared on a place where hackers tend to put what they are up to and what they intend to do. this one comes from a group that claims to be cyber fighters. they claim to be protesting and quote insulting film. you know what that's a reference to. now they are saying they are going to attack sun trust through a disruption of services denial -- denial of services. but sun trust seems to be up and running no problem. also targeting regions financial, capital one -- excuse me, capital one would be it today. sun trust wednesday. and regions financial on thursday. right now capital one no problems. you c
. stocks waiting for alcoa to kick off earnings season. nicole: that is right, earnings season begins today after the bell. beginning with alcoa on the 4:00 p.m. show, so we will bring it out. selling across the board. dow jones industrial average down 91 points, so about 15 points off of the lows of the day. the selling going on, nasdaq composite down 1.4%, we talk a lot about apple under some pressure. we saw some business reports coming, sentiment from those have fallen again for the fourth time in five months and also not saying thing to add staff or make capital investments at this time. also european picture here where the euro is lower and the dollar stronger. ibm, a look at some of the others, johnson & johnson downgraded to a cell from a neutral. those are the key names and those are all dow components. back to you. lori: figure for the update, nicole. angela merkel making her first trip to greece since the debt crisis began to show her support for the continued participation in the euro zone. while it is a vote of confiden confidence, her arrival was marred by tens of thousands of
for what some say could be a tough earnings season. we'll know in about an hour when dow component alcoa reports its results after the bell. coming up, ceoklaus kleinfeld talks with maria about the global economy. we'll also be the first to have yum brand results coming up. another key indicator of where this economy and market may be headed. here's where we stand now. a selloff this morning with the dow down 79 points. just kind of bumping along the bottom of the day, now at 13,506. the nasdaq is down 37 points. all these charts will look similar today. 1.2% down on the nasdaq. the s&p is down nine points at 1446. >> it's not a very happy anniversary today for the dow's all-time high. it was five years ago today the dow and s&p 500 hit their all-time closing highs. right now the dow is about 600 points away from that high-water mark. for the year, stocks are still up a solid 15%. why does it feel like it's the most hated bull market in recent memory? the numbers show that main street investors are not on the ride. they have been pulling money out of the stock mutual funds 15 of the last
little economic news. we do have alcoa, and i think that could lead the market, but don't expect a lot of volume this week. and we could kind of creep down. now, i think earnings season is going to end up being really good relative to expectations. i think earnings season is what's going to pop us to that 1500 level. but, you know, today is not a really bright day for the tech sector or the overall market as a whole. liz: well, tom lee of jpmorgan was here in the last half hour saying, you know what? 1495. two optimists right here. we'll take it. thank you so much, mark. mark intats chan. we're going to come back to mark when the s&p futures close in about six minutes, so stay tuned for that. let's get to our street fight now, david. we've got a bull and a bear. outright bull, outright bear. bill stone, pnc chief investment strategist is our bull, and for the bears we have lance roberts, straight talk adviser. lance is already cracking up. he's like, i'm taking on this guy big time. [laughter] so let me get some perspective first, bill. you're an optimist, and you believe that earnings
. earnings season gets the season kicked off today with alcoa. a global labor report because it does matter when you're looking at what the economy is going to do. >> one of the things alcoa has been able to do, particularly with the ceo, is take aluminum and replace a lot of other different metals, whether it be steel in cars because it's much lighter and therefore you use less gasoline. airplanes because again it produces the gasoline use. by the way, it does construct electricity, maybe not as sufficiently in copper but it is used in china. when you look at a can, you know it is recycled over and over again. the skin of an apple ipad, i mean, aluminum has become the fundament. aluminum has been hit by football hedge funds and we have chinese people producing huge amounts of aluminum. if they would close that and let alcoa come in, then you would see a much better number from alcoa. i'm urning people not to look at the earnings per share. that is not going to be -- what you need to do when look at alcoa is look at the individual forecast that he makes. when you see him as a man of his wor
on a lot of investors mind right now is the futures? >> alcoa first. then we will go to the lineup. a couple of the big banks out early. wells, jpmorgan chase -- it looks to us as if we are talking about $25 a quarter, give or take a few pennies out of the s&p 500 index. that will be relatively flat. maybe in total, a few pennies better. that is $100 a year. operating earnings from the s&p in an environment where the long-term u.s. government reference riskless rate is under 2%. that is a bargain. melissa: i was interested to see the latest trading volumes. you are talking about the average investor walking away. in august, it was down 37%. that is year over year. that is compared to last august. when we see that the markets are up 9% for the year, i wonder if the individual investor is walking away from returns? >> i think so, melissa. the investing class is still undergoing dramatic shock and recovery from it. that is why all of these bond flows continue to go into funds and those fund managers have to go by treasuries at 1.6-1.7 because they have to do something to put it to wor
things dictated in part by china first, alcoa, the old aluminum corporation of america and on tuesday afternoon, and i think that while the company is operating surprisingly well, earnings will be hurt by high-chinese aluminum. they don't want to set down their plants, because it would layoff huge numbers of of people over there, and they are afraid to do that. alcoa sells very hot marks, aero, automobile, and gas turbines, and don't forget because of its recycling qualities they work in cans. and they make the beautiful aluminum ipad skid. the aluminum in construction is awful. alcoa is hard pressed to get to the mid teens. where it would be if china weren't producing 5 1/2 million tons of aluminum it doesn't need. we'll also hear from yum brands. it's as american as kentucky fried chicken. judging by the slowdown in nike shoe sales, the colonel probably didn't sell a lot of chicken. kfc doesn't taste like a nike sneaker, but it's about people's moods. i bet it isn't bad. i like yum in the lower 60s. wednesday morning, earnings from cost come they got me thinking i'm too negative abo
alcoa for a gauge on corporate america. plus, german chancellor angela merkel ventures to greece, where she will likely be met by a sea of angry people. yesterday in the u.s.: a stock slide on china. stocks and commodies all fell on continued concerns of a slowdown in the chinese economy. and in m&a, principal financial is said to be ready to buy a chilean pension managing company for $1.5 billion. mark sebastian of option pit mentoring joins us now. will some eyes be on europe today mark? > > i think europe's interesting. i think everybody is waiting for the spanish regional elections on october 21st to see if after that they ask for the bailout. we've seen some real strength in the euro. i'm not sure that can last if spain asks for a bailout, and i think we're running into some technical highs on the currency. expect to see the euro drop a little bit here. > > here in the united states a lot of people are concerned about alcoa's earnings, which come out after the close and kick off the earnings parade. > > earnings cycles the last couple of cycles have been "expect the worst and get m
worse? >> earnings season here begins tomorrow with alcoa, costco, jpmorgan highlighting the week. we'll tell you why alccoa is a tell on how earnings will go. >> more worries for apple investors. reported work stoppages at foxconn. the stock now below the 50-day moving average. >> and huawei is sparking new concerns about cyber security. >> we begin with markets around the globe under pressure on global slowdown worries. 7.7% growth in china down from a previous forecast of 8.2%. the world bank citing weak global demand due to the european crisis and a slow u.s. recovery. data from europe showing industrial output in germany fell .5% in august. lots to digest. the world bank note was interesting. what they pointed out was a lot of chinese cities that had these aggressive and ambitious spending, stimulus plans to rebuild the cities might have trouble running into funding for these projects. >> i think a lot of the data that we see today is catch-up. there's just not a lot of good news out there. the brightest spot in the economy is the united states. i think it was controversial last
. we are watching earnings closely. it officially kicks off tomorrow with alcoa. closing. [opening bell ringing] and 29 minutes. shares of the company renewable energy group. more than 40% over the past year. the company announced it will not post a profit. what happened? what is the hope for this company? burning agricultural inedible products into real fuel. we had the company ceo and president, dan oh in a fox business exclusive. plus, we will ask him about the new regulations that he says could help his business. he is coming right up. stay tuned. ♪ sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. >> i'm robert gray with your fox business brief. s
tomorrow. the third quarter earnings season unofficially begins on tuesday when alcoa reports its results. and there were buyers today ahead of that news. it was one of the biggest percentage gainers of the dow, moving up 3.3%. the stock shrugged off an analyst at j.p. morgan cutting earnings estimates for alcoa. the analyst pointed to wker aluminum prices during the quarter. meantime, steel maker u.s. steel saw a small rebound in its share price, up 4.4%. but it's been a tough year for shareholders as the steel business has been hit by price cuts and weaker demand. u.s. steel is down 25% this year. global cement mixer cemex did something it hasn't done since early 2009-- it is talking publicly about its financial future, expecting sales to show a small increase in the third quarter. as a building supply company, cemex was hit hard during the credit crunch. but shares have been rallying, hitting a 52-week high with today's 4.8% rally. the financial forecast came thanks to cemex selling bonds, marking its return to the corporate debt market. the tech sector was among the weakest areas of t
by the earnings we are about to get from these companies. we're kicking off with alcoa after the bell tomorrow, and this is a stock that's really been playing around in bear market territory for most of the year. been underperforming the broader market. of course this is a major aluminium giant. their products go in everything from automobiles to soda cans, guys. and they are considered a barometer of the u.s. economy. they're expected to break even on sales of 5.56 billion dollars for the quarter. stocks up 6%, guys. here's the thing, not what happens to alcoa, dagen and connell, always matters for the rest of the earnings season because often times when we've seen alcoa miss, if you look back at history, guys, 75% of the time, s&p 500 companies have gone on to beat. so we've got the rest of these companies reporting later in the week. we will have a preview in the next hour. back to you guys. dagen: thank you sandra. some quick sports headlines from this weekend. last night the new orleans saints quarterback brees breaking a record in the team's first win of the season. brees breaking hall o
, they were neck and neck today, was bank of america in the financials and alcoa in the materials sector. alcoa reports earnings next week. we'll watch that one very carefully. intel, the semiconductors weak all day in a strong market otherwise. that was the worst performing component of the dow today. then there was the 30-year treasury, which just took off, especially after the fed minutes came out at 2:00 eastern time today and the yield got even higher, up to 2.88% late in the session. energy, very much a feature today. the turkey/syria situation, and that pushed prices higher by almost 4% to $91.57. but a lot of it also had to do with gasoline futures up 5% today with that refinery in texas, the largest operating refinery in the country sustaining that big damage last night because of the fire. so there it is, up to $2.93. among the sectors, financials led the way, like bank of america. materials, like alcoa. then energy and consumer discretionary and the utilities. matt, a lot of moving parts and pieces today. how much credence -- do you see energy going much higher for here? would
. >>> these stocks are hitting new highs as we gear up for another important earnings season. alcoa officially kicks it off tomorrow but brace yourselves, this earning season might be a little rockier than others with big bank earnings beginning on friday. jpmorgan, wells fargo, for example. what's the state of the financials right now? cnbc's ckayla tausche taking th pulse. >> bank earnings have been boosted for several quarters by the ability to bolster their bottom line by freeing up some of of the unused loan loss reserves. those are the funds that banks have been squirreling away to pay for loans that go sour, which not surprisingly peaked in q4, 2008, when the financial cry ss drove consumers and their debt belly-up. when credit improved, banks needed less protection and began releasing these funds, releasing them straight to their earnings. take a look at what the big banks did just in q2 which the fdic said was the lowest quarter for reserves in five years. citigroup cut 7% from its reserves in that single quarter. bank of america swiped 6.5% from its allowances. jpmorgan cutting 8% from its
earnings seasons since late 2009. as always, alcoa will kick things off followed by jp morgan chase and google. this morning economic worries were a drag on most asian markets after the world bank slashed its growth forecast for china and east asia. the imf is expected to do the same for its global outlook sometime this week. here in the states, california's governor has ordered early delivery of cheaper winter grade gas to help ease a shortage that drove prices to a record $4.65 a gallon over the weekend. the national average is just $3.81. >>> around the world, honda is recalling just under half a million crvs made between 2002 and 2006 for problems with a driver side power window switch that could cause a fire. >>> says the cost of thanksgiving flights are already on the rise. the average domestic round trip ticket is now $393, that's up 3% over last year. >>> and speaking of holiday spending, a record seven in ten americans will celebrate halloween this year. from costumes to candy, revelers will shell out just under $80 apiece. >>> finally, say it isn't so. "the w
alcoa a key component of the dow jones industrial average. for the week the dow ended 173 points higher while the nasdaq added nearly 20 points. the house intelligence committee is expected to release a report this morning that says two of china's leading technology firms pose a significant national security threat to the u.s. the investigation recommends american companies and the federal government should not do business with huawei. the report warns of potential of cyber attacks from huawei and zte. both deny they are security threats. and "taken" was number one. it stars liam neeson as a retired fbi agent. the movie, "hotel transylvania" was second and "pitch perfect" came in third. a little something there for everybody. >> ashley morrison here in new york. thanks so much. >> extreme sky diver. a daredevil hopes to make history when he takes a big leap 23 miles above earth. this is the morning news. 23 miles above earth. this is the morning news. [ male announcer ] we put a week's worth of bad odors in a home. some aerosols may just mix with them. can febreze remove them? [ moderat
the bell, alcoa kicks off what is expected to be a grim earnings season. apple was a drag on the dow and s&p despite denials of a strike at one of its manufacturing plants. >>> house officials are warninging u.s. companies to avoid dealing with two of china's telecom equipment makers. >>> american express and walmart are rolling out a reloadable prepaid card. currently 5% of walmart transactions are done in cash. >>> gm plans to hire up to 10,000 computer pros as it takes software and tech design in-house. >>> piling more into your fridge these days? that's because american's waistlines are growing along with refrigerators. new data shows they've expanded more than three cubic feet in the last 30 years. >>> if you're trying to lose a few, the american beverage association is rolling out new soda machines and they're going to have calorie counts on the buttons. good idea. >> it's that time of year nor the neiman marcus christmas book. a $250,000 hand crafted mahogany speed boat. put that on the list for santa. >>> things get even in the major league and tiger says i'm sorry. plus five miles
of the worst earnings seasons since late 2009. as always, alcoa will kick things off followed by jp morgan chase and google. this morning economic worries were a drag on most asian markets after the world bank slashed its growth forecast for china and east asia. the imf is expected to do the same for its global outlook sometime this week. here in the states, california's governor has ordered early delivery of cheaper winter grade gas to help ease a shortage that drove prices to a record $4.65 a gallon over the weekend. the national average is just $3.81. >>> around the world, honda is recalling just under half a million crvs me between 2002 and 2006 for problems with a driver side power window switch that could cause a fire. >>> says the cost of thanksgiving flights are already on the rise. the average domestic round trip ticket is now $393, that's up 3% over last year. >>> and speaking of holiday spending, a record seven in ten americans will celebrate halloween this year. from costumes to candy, revelers will shell out just under $80 apiece. >>> finally, say it isn't so. "t
. the aluminum company, ago co-a, -- alcoa, will kick things off. profits are expected to fall at united states companies to fall, it will be the worst profit performance since 2009. also a big anniversary, five years ago this week the dow hit a record high of 14165 less than a year before the financial crisis of 2008 hit. here's where we stand today. the dow is at 13610, after climbing 35 points and trading friday. nasdaq was down by 13, s & p 5 4u7b down -- s & p 500 down a half point. >>> a power failure at a plant and a pipe line shut down led to supply shortages on the west coast for gas. average price for a gallon of gas in california $4.49. that makes it the highest in the nation. in many parts of the state prices climbed 40 cents a gallon in the last week alone. here in the dc area, this actually feels good in comparison. we are paying $3.73 for gas. >>> and it costs more to get a higher education this year. new data showed tuition and fees at private colleges and universities rose 3.9%. the good news, this year's increase in private college tuition is the smallest on record. still well
are doing what they can to get consumers' attention. stock-index futures indicating a lower open. alcoa will have quarterly results today. black friday is not the best day for a bargain. the best time to buy uggs in september or october, and the same for popular toys. some appliances get cheaper close to christmas. the cheapest time to buy a watch is in march. if you want to save money on your dental bill, don't kiss your dog. that in my next report. live at bloomberg headquarters in new reporting for abc 7 news. back to you. >> thank you. that won't be a problem for me. >> washington wizards will have an open practice tonight and it's open to the public at 6:30 at the patriot center on george mason university campus. the home opener is november 3 against the boston celtics. the nationals had a bump in the road when they got defeated by the cardinals in st. louis. >> tied at one game apiece now. fans were disappointed by the loss, but are looking forward to the rest of the series. the team now goes back to dc. >> maryland state police investigating the action of two troopers during game
Search Results 0 to 49 of about 112 (some duplicates have been removed)